purchasing chapter 4 10 questions.docx - 1 What does supply...

1.What does supply integration involve? Involves professionally managing suppliers and developing close working relationships with different internal groups2.What is the single most important element that senior executives look for? Relationship management3.What is collaboration? Process by which two or more parties adopt a high level of purposeful cooperation to maintain a trading relationship over time4.What is trust? The belief in the character ability strength and truthfulness of another party5.What does cross-functional sourcing teams consist of? Of personnel from different functions and increasingly suppliers brought together to achieve supply management or supply chain related task6.What are some benefits from cross-functional sourcing teams? Reduce time to complete task, increased innovation, joint ownership of decisions, enhanced communication among functions or organizations, realizing synergies by combining individuals and functions, better identification and

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